Phoenix, AZ - June 8, 2012 - Roadrunner Pharmacy, Inc. ("Roadrunner" or the "Company"), announced that it has partnered with Ampersand Capital Partners ("Ampersand") and Huntington Capital ("Huntington") in a transaction that has provided equity capital to support Roadrunner's continued expansion in the U.S. veterinary market. As part of the transaction, Square 1 Bank has provided a senior credit facility to further support the Company's growth requirements. Terms of the transaction were not disclosed.
Roadrunner supplies customized prescription medications to over 11,000 veterinary clinics and their pet owner clients across the U.S. The Company provides pharmaceutical drugs in customized dosage strengths and forms as prescribed by veterinarians to facilitate safe and effective medication delivery when no appropriate, proprietary form of prescription drug is available. The Company also specializes in supplying back-ordered and discontinued veterinary medications so as to avoid a disruption in the care and. treatment of certain pets. All prescriptions are prepared and shipped from the Company's state-of-the-art pharmacy in Phoenix, AZ.
According to Rob Eaton, Roadrunner's founder and President, "We are very pleased to partner with Ampersand and Huntington to expand our business. Roadrunner enjoys strong, supportive relationships with veterinarians and their clients, and we are well positioned to capitalize on the growing demand for customized therapies and wellness programs for companion animals in the U.S."
"Roadrunner has built an excellent reputation among veterinarians and pet owners as a trusted source of high quality, customized prescription medications" commented David Parker, General Partner of Ampersand. "Ampersand is excited to have the opportunity to work with the Roadrunner team to capitalize on the Company's strong growth trajectory and take the business to the next level."
Tim Bubnack, Managing Partner of Huntington Capital, further commented, "We are pleased to continue our relationship with Roadrunner which began several years ago. Over that time, we have developed tremendous respect for what the Roadrunner team has accomplished, and we look forward to being a part of the next phase of the Company's growth." .
Roadrunner is a privately held pharmacy headquartered in Phoenix, AZ that supplies customized prescription medications to the U.S. veterinary market. Roadrunner and other pharmacies provide such customized medications to veterinarians and their clients when there is no appropriate, proprietary form of prescription drug available.
Ampersand is a middle market private equity firm that targets growth equity opportunities in the healthcare sector. Ampersand leverages a unique blend of private equity and operating experience in supporting portfolio company teams to drive long term growth and value creation.
Huntington is a lower middle market mezzanine fund that provides debt and equity financing to small and medium sized companies in the western United States. Huntington focuses on helping its portfolio companies maximize their performance while generating a positive impact on communities.